Insolvency Rules 2016 – Virtual meetings and proxies

Virtual meetings may be your decision procedure of choice in which case you will have to be familiar with the new proxies, blank, specific and general, and how they are to be used. Proxies. Insolvency Rules (IR) 16.1 – 16.9.Insolvency practitioners are very familiar with proxies, documents that are used to enable one person to […]

Insolvency Rules 2016 – Opting out and deemed consent

Opting out and deemed consent are two of the new concepts introduced by the Insolvency Rules 2016. Take notice of the restrictions on the use of deemed consent. I’ve worked through the Insolvency Rules 2016 many times now in order to update the RMCSC Insolvency Guidelines. It is possible to confirm both that the search […]

Insolvency Rules 2016 – Decisions

Insolvency practitioners are long used to the legal procedure of creditors’ meetings as the way in which creditors, the key players in the insolvency process, make vital decisions about a company or individual who is insolvent. From 6 April 2017 this will change completely. Creditors will still be the key decision makers in the insolvency […]

RMCSC Index to the Insolvency Rules 2016

The RMCSC index to the Insolvency Rules 2016 is just one page long and is easier and quicker to use than the 38 page index included in the Rules themselves:- Part 01 – Content of notices & documents, electronic delivery of documents Part 02 – Creditors’ voluntary arrangement Part 03 – Administrations Part 04 – […]

April 2016 CDDA changes

The legislation for reporting on the conduct of directors will change from 6 April 2016. The Insolvent Companies (Reports on Conduct of Directors) (England and Wales) Rules 2016 were laid before Parliament on 22 February 2016 and can be accessed on Reports on Conduct of Directors (PDF) The changes are not onerous but they will […]

Insolvency (Amendment) Rules 2015 and SIP 9 2015

The Insolvency (Amendment) Rules 2015 ‘the Rules’ came into force on 1 October 2015 and since 1 December 2015 the insolvency profession has had a new SIP 9 to give guidance and instruction as to how the Rules should be interpreted. The Insolvency (Amendment) Rules 2015The Rules affect all types of insolvency appointment except individual […]

Updated advice for the fees estimate rules

The Insolvency (Amendments) Rules 2015 come into effect on 1 October 2015 and bring in the requirements for preparing fees estimates and details of anticipated expenses and sending this information to creditors before the basis of remuneration is approved, either by creditors or a committee.It will be very important to establish policies to ensure that […]

Why mediation is an option

Since April 2016 insolvency practitioners have not been able to recover either success fees or uplift fees in conditional fee agreements or any adverse costs insurance premium, as insolvency practitioners’ exemption from the Legal Aid, Sentencing and Punishment of Offenders Act 2012 came to an end.Civil Procedure Rule 44, giving general rules about the recovery […]

Introduction RMCSC

RMCSC Ltd provides a high quality individual service linking insolvency qualifications and experience with professional management so that peer and regulatory reviews are more than a consideration of files and systems, and enabling complaints to be resolved professionally, giving an efficient service tailored to the needs of each client.